RBI Launches G-Secs App, PRAVAAH Portal, FinTech Repository

RBI Governor Shaktikanta Das on Tuesday launched three major initiatives, on behalf of the Reserve Bank of India, the PRAVAAH portal, the Retail Direct Mobile App and the FinTech Repository.

Key Takeaways from RBI Launches:

• RBI launches three major initiatives, the PRAVAAH portal, the Retail Direct Mobile App and the FinTech Repository.
•  The PRAVAAH portal will help individuals or entities apply online for various regulatory approvals in a seamless manner.
• The Retail Direct Mobile App, will enable retail investors seamless and convenient access to the retail direct platform and ease the process of transacting in government securities (G-Sec).
• Fintech Repository would provide information to Indian FinTech firms for a better understanding of the sector and facilitate in designing of appropriate policy approaches.

The central bank launched the PRAVAAH portal for individuals or entities to apply online for various regulatory approvals in a seamless manner.

The second initiative, the Retail Direct Mobile App, will enable retail investors seamless and convenient access to the retail direct platform and ease the process of transacting in government securities (G-Sec).

The Fintech Repository the third initiative will be a data storehouse of the Indian FinTech firms for a better understanding of the sector from a regulatory perspective and facilitate in designing appropriate policy approaches.

About the PRAVAAH Portal:

Platform for Regulatory Application, VAlidation and AutHorisation (PRAVAAH) portal is a secure and centralised web-based portal for any individual or company to seek authorisation, license or regulatory approval on any reference made by it to the Reserve Bank.

About the Retail Direct Mobile App:

The Retail Direct portal was launched in November 2021 to facilitate retail investors in opening their Retail Direct Gilt accounts with the Reserve Bank of India under the Retail Direct Scheme. 

About the Fintech Repository:

The FinTech Repository is a secure web-based application managed by the Reserve Bank Innovation Hub, a wholly-owned subsidiary of RBI.